Ilmiy tadqiqot markazi

Bar chart 1. Global Islamic Banking size (USD trillion)
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In the chart above, we can see the growth rate of global Islamic banking assets from 
2018 to 2020. In 2018, it was 1.68 trillion US dollars, and by 2021, it increased by 9.5% and its 
volume was 1.84 trillion US dollars.
 
There are lessons in the field of technology which Islamic banks can learn from 
conventional banks in the most advanced industrialized countries that may facilitate their 
entry to these markets. Conventional banks can, however, learn from Islamic banks 
concerning staff and client motivation, as well as about staff
–
client relationships, which are at 
the heart of Islamic banking. In other words there can be a technology transfer one way, but a 
human value transfer in the opposite direction. 
Islamic banks and conventional banks should not regard each other as a threat. They of 
course compete with each other, but not usually by the pricing of their services. Instead 
Islamic banks compete by offering differentiated products that they believe will appeal to 
Muslim clients given their 
Shari’ah 
compliance. Islamic banking, despite being in existence in 
its modern form for over three decades, is still in many respects an infant industry. The banks 
themselves lack the critical mass to be major international players. Hence, they need to 
cooperate with conventional banks to identify attractive financing opportunities, and for 
international client appraisal. Islamic banks can draw on expertise in the 
Shari’ah
, but they 
are often lacking in knowledge of sophisticated financing techniques and instruments, and 
have little experience of financial engineering. In this field cooperation with major 
international banks can also prove fruitful. Islamic banks can learn from the experiences of 
conventional banks in information technology, but conventional banks can learn from Islamic 
banks new facets of relationship banking and how to achieve client loyalty by the convergence 
of bank and customer values. Islamic banks dealing with conventional banks need to ensure 
that any cash or portfolio management is conducted in accordance with the 
Shari’ah. 
Nevertheless, the experience of the last two decades demonstrates that conventional banks 
can legitimately offer Islamic financing facilities. There would seem to be many promising 
areas for cooperation between Islamic and conventional banks, but that does not mean that 
both types of institutions will not continue to compete with each other. 
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Stability report of IFSI (Islamic Financial Services Industry) 2022